The Whitnell Way

Insights For Business Owners, Executives And Affluent Families

Viewing Blogs by William E Thonn

Whitnell's Perspective on Brexit

Why It’s Wise To Stay The Course

Last week the United Kingdom approved a referendum to exit the European Union. Most of the polls, analysts and markets had expected the vote to go the other way, so the response globally was decisively negative. The British pound, the Euro and all major stock markets declined sharply. While no one knows what the outcome will be, here is our perspective of the impact on the economy and markets.

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Whitnell's Perspective on Brexit

What’s The Difference Between Information And Advice?

How Technology Is Changing The Way We Serve You

I recently Googled “year-end tax planning” and got back 91 million results. Talk about overwhelming! Clearly, people are thinking about this topic. But the question becomes: what do you do with this information? How can you know which article is right for you? Do you need to read all 91 million articles to finally figure out which one has the best advice for your unique situation?

This time of year there are an abundance of very useful tax tips and strategies for year-end. But here’s one you may not have heard. I recommend that you sit down with your advisor to look at the big picture and not just a set of uncorrelated tactics.

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What’s The Difference Between Information And Advice?

Lessons Learned From My Father’s Honor Flight

How To Know If An Advisor Is Acting In Your Best Interest

Last year my family and I had the pleasure of watching our father board an Honor Flight bound for Washington D.C. A WWII veteran, our father had not yet been to D.C. to see the memorial built to show respect to the brave men and women of his generation.

As he and ninety other veterans boarded the plane, he was surrounded by a group of volunteers who would take care of his every need for a long eighteen hour day. In fact, Honor Flights are made up almost entirely of volunteers: nurses, drivers, pilots, tour guides. These volunteers have planned every detail of the journey: transportation, medications, logistics and a listening ear. The Honor Flight program, I believe, is a great example of Americans at their best.

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Lessons Learned From My Father’s Honor Flight

ROI: Return On Insight

Three Ways “Being Known” Benefits Our Clients

Last year we conducted a survey with several of our clients to understand how we are delivering value to them and what it feels like to be our client. We heard one overwhelmingly consistent theme – “you know me so well.”

Being known matters to our clients and it matters to us. But here’s something you may not know. The time we put into getting to know you, and the time and effort you put into talking with us, really helps us help you. This is something we call ROI: Return On Insight. Here are three ways that being known delivers real ROI to our clients.

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ROI: Return On Insight

The Value Of Continuity

Why It Matters To Clients And To Us

Over the years I’ve had the great privilege of serving many affluent families. Many years ago at another financial institution when I was first promoted into senior management, I began to notice a disturbing trend. Certain clients, whom I knew we were serving well and for whom we had delivered excellent performance, began to leave. The conversations often went something like this:

“Bill we really like you and we like this company. But we’ve decided to move our accounts elsewhere.”

When I enquired why, they would usually say something like: “you’ve taken good care of us and we appreciate that. But as a family we’ve begun looking at the long haul and who we can know and trust over many years. We have a lot of important decisions coming up and we need someone who really knows our situation. The problem is that our last two financial advisors did such a great job that they were promoted and we feel like we have to start over again. We just can’t do that anymore. Isn’t our relationship important enough that the best people should be able to advance in their career and stay with us?”

Out of these difficult conversations, I learned the value of continuity. I’d like to tell you how we approach continuity at Whitnell.

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The Value Of Continuity